UEFA: Manchester City have fulfilled obligations after breaching Fair Play rules
Manchester City have fulfilled all the financial obligations imposed on them after breaching Financial Fair Play rules three years ago, UEFA has confirmed.
City were hit with a £49million fine, transfer restrictions and a tighter Champions League squad limit after being found guilty of breaching the European governing body's regulations in 2014.
Under UEFA's settlement with the club, City also agreed to some financial restrictions, including limiting annual losses to set amounts with the purpose of moving towards break-even figures. This has been achieved and City have even recorded profit in the past two financial years.
French side Paris St Germain, who fell foul of regulations in the same year, have also fulfilled their requirements.
A statement from UEFA read: "Manchester City FC (England) and Paris Saint-Germain (France), whose settlement agreements were signed back in May 2014, have fully complied with all the requirements and overall objective of their agreements. Consequently, they have all exited the settlement regime."